In the past year and a half, non-fungible tokens (NFTs) have seen large-scale hype and auction transactions worth millions of dollars. A recent survey conducted by bonusfinder.com showed that sports fans are skeptical of NFT enthusiasm, as poll results show that nearly three-quarters of people are “moderately skeptical” about the long-term results of NFT as an investment.
Sports fans are skeptical of NFT, but 62% of people understand the technology
Irreplaceable tokens have been a very hot topic in 2021. Global Google Trends (GT) data shows that in mid-March, the topic reached the highest level in Google queries in history. However, since then, GT data shows a significant decline in interest, as search queries for the term “NFT” dropped from the highest score of 100 to 38 this week. Just recently, the portal bonusfinder.com published a survey involving 1,009 sports. Fans in the United States revealed their views on NFT. Approximately 64.1% were men and 35.7% were women. Participants were between 18 and 83 years old, with an average age of 38 years.
The study highlighted that California, Hawaii, Washington, DC, Nevada, and Vermont have the highest interest in NFT. In New Hampshire, Rhode Island, Delaware, Massachusetts, and New Jersey, the search for the phrase “NBA Top Shot” has the highest number of queries. The Bonusfinder survey showed that 62% of respondents knew what NFT is, and 16% admitted that they did not. 23% of people are “unsure” what a non-fungible token (NFT) is, and about 9% said they described the technology “very comfortable”. 28% of participants said they were “uncomfortable” or “very uncomfortable” when discussing NFT topics with others.
Bonusfinder research shows that 40% of sports fans are uncertain about the lifespan of NFTs, and 39% said they are “excited.” 29% of the 1,009 sports fans stated in detail that they are confused about NFT. “Although it has been sold for millions of dollars,” Bonusfinder’s survey pointed out, “34% of sports fans also admit to being very skeptical about the long-term investment prospects of sports NFTs. In contrast, less than 4% are Fully bought, another 23% of people think they are a little skeptical.” The NFT study added:
Overall, 52% of sports fans believe that sports NFT is an investment bubble, which may be a keen observation of current market conditions.
Fans of specific sports teams may buy NFTs, and one in five people has already invested in sports NFTs
Another interesting finding shows that one in five sports fans have invested in sports-related NFT products, and the average sales in 2021 will be close to $600. The most popular products among the respondents include “NBA Top Shot (52%), digital transaction cards (47%) and MLB Champions NFTs (43%)”. Interestingly, 19% of NFT investors who have purchased NFT before have purchased Rob Gronkowski Champion Series NFT. The survey also revealed that fans of certain sports teams tend to buy NFTs.
“Fans of the Chicago Bulls (27%), Boston Celtics (25%), New York Knicks (24%), and Cleveland Cavaliers (18%) are most likely to buy NFTs, and the investment inspiration most often comes from friends (52%), family members (40%) and news articles (38%),” Bonusfinder researchers emphasized. “Twitter (23%) is the most popular social media inspiration for sports NFTs, and Tesla founder Elon Musk (12%) is the biggest influencer.”
The conclusion of the Bonusfinder study is that it is difficult to say how long the NFT hype will last. Nonetheless, the survey results show that people are familiar with NFTs, sports fans are buying them, and a small number of people are satisfied with describing the technology. At this point in the game, nearly three-quarters of people are at least “moderately skeptical” about the overall lifespan of sports NFT as an investment tool.
What do you think of recent surveys on sports fans and NFTs? Please tell us your thoughts on this topic in the comments section below.
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